Irvine-based Xponential Fitness Inc. (NYSE: XPOF) has appointed Mark King as its new chief executive, effective immediately.
King takes over the role following the suspension and then resignation of Founder Anthony Geisler in May.
Shares surged 25% to $14.14 apiece with a $679 million market cap during midday trading.
He was most recently the CEO of Taco Bell, joining in 2019 and leading the company to positive same-store sales growth in each quarter but one while simultaneously opening more than 1,400 new franchise locations during his tenure. He also supported the ramp up of Taco Bell’s international segment.
Before the restaurant chain, King was the President of Adidas North America and worked his way from territory sales representative to CEO at TaylorMade.
“The Board is confident that Mark’s extensive track record growing global brands and strengthening franchise systems will enable Xponential to expand its global leadership position in Health & Wellness,” Chairman Mark Grabowski said in a statement.
